Write Books, Earn More Money

Let me get one statement out of the way.?If you choose to read this blog to its conclusion, you will find out why writing books can earn you more money. How do I know this to be true??First of all, I have written and independently published my own books for more than ten years.?Most importantly, I have partnered with professionals as a ghostwriter or writing coach and watched their personal and professional lives go places they never thought possible.?In short, adding "author" to your profile will put you in an elite space that few venture while you watch your income earnings go up, up, and up.?

To The Point, Please

I recognize your time is valuable.?So, this blog will be different from other blogs and articles you have read.?I am dispensing with the pretty prose to dive into the nuts and bolts of my topic - when you write books, you earn more money.?In fact, I will use a question-answer approach to streamline the key issues that are most relevant to this discussion.?So, let us begin with answering the first question most of my author-clients ask.??

Will I Make Any Money on My Books?

For movie goers familiar with The Matrix Reloaded, allow me to paraphrase dialogue between the characters The Architect and the hero Neo:?"Your first question may seem the most pertinent, but it is also the most irrelevant."?

Unless you are a well-known politician, celebrity, or large brand business executive receiving a lucrative advance from a big publisher, the statistics show that most published authors make a modest amount of income from their books.?However, do not let this reality discourage you.?I'll let you in on a secret: business owners and public speakers publish books to build other revenue sources using their books as a launch pad.

Revenue from derivative products

The bottom line is you can make a significant amount of income from the derivative products you create based on your books. How is this possible??When you independently publish, you maintain the copyright which offers maximum flexibility on developing revenue streams using your books. I'll share a list of ideas with you momentarily.?

The legacy of your voice

The other amazing aspect of this revenue model is your ideas, experiences, and insights will be documented forever using the written word. Think about it; readers are still pondering the wisdom of Socrates, Plato, and Aristotle from the time of the Greeks. Through the written word, your know-how will be long-lasting.?

I reflect on books by authors who are no longer with us, but their voices still speak to me.?Books like Randy Pausch's The Last Lecture, Dr. Richard Carlson's Don't Sweat the Small Stuff book series, and Zig Ziglar's See You at the Top are on my bookshelf.?Imagine the legacy you can leave to your family and generations of future readers.??

What Are the Six Money-Making Benefits to Publishing Books?

Let us get to the heart of the matter. There are big money-making advantages to writing and publishing books.?As you read through these six benefits, think how you can apply them to your situation.?Consider the revenue streams you can develop to expand of your brand's footprint.

Benefit #1:?Establish yourself as an expert

To build your personal brand as a thought-leader, ideally you should be publishing a book at least every two or three years. Not only will you be viewed as an expert in your field, you will substantially increase both your credibility and visibility in your industry. A book is the most important marketing tool you have in your arsenal.?Every article, blog, profile summary, or public speaking introduction will include the words "author of" and give you an instant stamp of credibility.???

Benefit #2:?Expand your visibility and publicity

Let's be honest here; it's really difficult to get the attention of media outlets in today's noisy environment. In addition, promotion of your business is viewed as advertising whether you're trying to find an angle to approach media or posting about what you do in the LinkedIn news feed.?Writing a book absolutely changes the equation!??

When you write a book that provides valuable content your target audience needs, suddenly the doors to visibility and publicity open.?You have amazing informational content to share in your social media and LinkedIn newsfeeds referencing your book.?As the "author of" you are now an expert on a niche topic to be interviewed on mainstream television, cable/local television, radio, and podcasts. Reach out to bloggers, freelance writers, and columnists as a media resource for quotes. Why not become a source for journalists at HARO (Help a Reporter)?

I bet the opportunities for promoting your brand are beginning to unfold in your mind even now.?Here is the most exciting part - once you begin publishing books, people start coming to you!

Benefit #3:?Increase your consulting opportunities and fee

Consulting can be a sweet deal, but the competition is steep.?What is going to make you stand out from your competitors??You know the answer; publishing books will throw the doors open for new and more lucrative consulting opportunities. Being the "author of" raises the profile of your business, which allows you to charge higher fees.?

Let me share just one strategy that smart business and public speaking authors use.?When you independently publish, you can order "author copies" at a much lower cost than retail. You can sell your books at a discounted rate to be distributed to clients, conference attendees, etc.?It's a win-win. Your book and brand gets out to readers. Recipients of your books receive an added-value by getting your book for a cost savings. They also will serve as book ambassadors distributing your books to their employees, clients, or conference attendees.

Benefit #4:?Diversify your public speaking and earn up to a $20,000 fee

If you have not thought about public speaking as a revenue source, I urge you to consider it.?

Let me share some money facts you may find quite interesting from a Harvard Business Review article.?Professionals establishing their brand with a first book can potentially earn $5,000–$10,000. Business owners and public speakers who have published several books might draw $10,000–$20,000.

I think the numbers speak for themselves; enough said on publishing books and adding public speaking to your revenue model.

(This is a photo of me at a speaking gig. I find public speaking rewarding and enjoy talking with attendees afterward to answer questions and network.)

Benefit #5:?Create on-demand (online) courses

Technology and the internet have opened another product as a source of revenue for business owners and public speakers.?The beauty of producing on-demand masterclasses based on your book is once you develop the video content it can be re-used over and over again.?Best of all, because it is a digital product, your material is accessible to the world.?You can present both free and fee-based courses.?

Do not be intimidated by the technology, creating a presentation, or setting up your platform.?A lot of self-help blogs and articles have been written on how to create your own on-demand courses.?Simply do your research and you can soon add "teacher" to your professional profile.?

Benefit #6:?Podcasting (become a podcast guest expert)

Have you listened to a podcast before??I have, and they remind me of listening to a radio talk show except it is in the digital world.?The format is an interview-type style.?For listeners, it's a great opportunity to learn and be introduced to new thought-leaders like you.?(Remember - you will be introduced as the "author of" at the opening of the show.) For a book author, it offers a unique and expansive access to niche audiences to share your ideas, stories, and experience.??

Let me point you to a statistic you will find astonishing.?According to PodcastInsights.com, there are approximately 2 million podcast shows.?Out of all these podcasts, do your research to narrow the podcast field to connect with audiences that match your book's message.??Podcasts can be an efficient and enjoyable venue for showcasing your brand and books.

I highly encourage you to add "podcast guest expert" to your marketing activities. It opens a marvelous opportunity to share your knowledge while adding to both your credibility and visibility in your industry.??

The Wrap-up

Adding "author" to your personal brand will escalate your position as a thought-leader in your industry. You can also take advantage of the varied money-making opportunities when you write and publish books.?In addition, you can enjoy the ultimate outcome of not needing to chase business anymore which is time-consuming and costs you money in lost fee-based activity.?Instead, prospective clients and the media will come to you.

Let this be the year you become an actively published author. It will absolutely change your personal and professional life in an exciting and financially profitable way.?Visit me at MelissaNewton.com or review my LinkedIn profile to learn more about how I can help you write and publish your books. A free 30-minute Zoom conversation is all it takes to get started!